Property gets connected

The internet is finally having an impact on the property sector, says a new report - and connectivity is having a vital impact on location, location, location.

There has been a sea change in the way that the property market perceives the usefulness of the internet as a key information provider, according to a major new survey by property consultants King Sturge & Co. More than this, a property's connectivity to communications resources is having a major impact on where businesses are willing to locate.

Today 64 per cent of respondents think that the internet will become a useful medium for searching for commercial property - an increase of 120 per cent on just a year ago. This is partly due to an improvement in the amount and quality of property information on the internet over the last twelve months. A total of 40 per cent of the respondents found the internet a very useful search tool for commercial property and a medium for obtaining property information such as regional variations in rental charges. This was an increase of 67 per cent over 1998.

Selecting agents is another surprise by-product of the web-based information explosion. 76 per cent of respondents found the internet to be a useful medium for selecting property professionals - this compares with 49 per cent in 1998. How good is your website in connecting you to service buyers?

At the same time, the report shows that the connectivity services in a building or its access to crucial links is a key criteria in where these buyers will eventually choose to locate. Location is now no longer everything - but the location of connectivity services may be.

The Connectivity report is available in a pdf format at www.kingsturge.co.uk.